Walmart beat forecasts for the fourth quarter as its investments in e-commerce and other efforts fueled a 4.2% same-store sales increase and a 43% jump in online sales, the retailer reported. The retailer has grown its digital sales over the past two years through both acquisitions like Jet.com and expansion of programs including grocery delivery and click-and-collect.
Amazon has committed to cutting the carbon footprint from half its shipments to carbon neutral by 2030 and will share details for reaching that goal later, the company said. Amazon, which has dubbed the new effort "Shipment Zero," has several other programs with a sustainable focus, including solar and wind farms, and efforts aimed at minimizing packaging.
Online luxury retailers including MatchesFashion, Net-a-Porter and Mr Porter have expanded into brick-and-mortar spaces and launched in-person shopping features. For example, MatchesFashion's new four-story London boutique dedicates half the space to private shopping for customers using its MyStylist concierge service.
Karl Lagerfeld, the prolific designer who reinvented Chanel after taking over as creative director in 1983 and also developed his own fashion brand, has died at age 85. "Thanks to his creative genius, generosity and exceptional intuition, Karl Lagerfeld was ahead of his time, which widely contributed to the House of Chanel's success throughout the world," Chanel CEO Alain Wertheimer said.
Calvin Klein has unveiled a digital-first campaign, "#MyCalvins," which features a host of famous faces including Kendall Jenner, singer/songwriter Shawn Mendes, A$AP Rocky and actor Noah Centineo. The global push is running across social, digital, outdoor and print and is encouraging user-generated content on TikTok.
Virtually all of the growth in US retail sales next year is expected to come via digital channels, according to Fitch Ratings, and retailers will do well to focus their efforts on omnichannel strategies, Managing Director Monica Aggarwal said. Online sales grew around 20% in 2017.
Online fashion retailer Modcloth was set to open its first permanent brick-and-mortar store in New York City on Saturday, as part of a bigger plan to open 19 new stores by the end of the year. Modcloth has also teamed with Nordstrom and, in addition to selling on Nordstrom.com, the company has launched sales at 20 Nordstrom department stores.
Amazon has added a feature in Kenya called Amazon PayCode that lets online shoppers pay for their purchases in cash at their local Western Union office. The feature is also available in nine other markets, in Latin America and Asia.
Philadelphia lawmakers passed a bill to require most restaurants and retailers in the city to accept cash, and the city's mayor is considering whether to sign the measure that came as more merchants are adopting no-cash policies. "We believe retailers should decide for themselves, based on their customers and on the attendant transaction costs, whether they should stop taking cash," NRF General Counsel Stephanie Martz said.
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